8. The population of Grand City in 1990 was 5,250. Assume the population is increasing at 2.5% per year. What was the population in Grand City in 2010 (round answer to the nearest person)?
every year multiply by 1.025
so
5250 * 1.025^10
To find the population of Grand City in 2010, we need to calculate the population growth over the 20-year period from 1990 to 2010.
Step 1: Calculate the annual population growth rate
The annual population growth rate is given as 2.5%.
Step 2: Calculate the population growth over the 20-year period
To calculate the population growth over the 20-year period, we need to apply the annual growth rate for each year.
To do this, we can use the formula:
Population = Initial Population × (1 + Growth Rate)^Number of Years
In this case, the initial population in 1990 is 5,250 and the number of years is 20. The growth rate is 2.5%.
Population in 2010 = 5,250 × (1 + 0.025)^20
Step 3: Calculate the result
Using a calculator or a spreadsheet, plug in the numbers from step 2 and calculate the result.
Population in 2010 = 5,250 × (1.025)^20
Population in 2010 ≈ 5,250 × 1.645
Population in 2010 ≈ 8,633.75
Rounded to the nearest person, the population in Grand City in 2010 was 8,634.